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small-cap

One NYSE-Listed Oil & Gas Transportation Stock at Resistance Level: Ardmore Shipping Corporation

May 08, 2024 | Team Kalkine
One NYSE-Listed Oil & Gas Transportation Stock at Resistance Level: Ardmore Shipping Corporation

ASC:NYSE
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (US$)

Ardmore Shipping Corporation

Company Overview: Ardmore Shipping Corporation (NYSE: ASC) is engaged in the ownership and operation of products and chemical tankers in worldwide trade. The Company operates through one segment, which is transportation of refined petroleum products and chemicals. The Company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size products and chemical tankers.

As per our previous US Inflation report published on ‘ASC’ on 12th April 2024, Kalkine provided an ‘Buy’ stance on the stock at USD 16.28 based on expected valuation upside, attractive valuation, risks associated, positive outlook and trading levels and the stock price has now moved by ~8.84% since then and has attained resistance 1.

Noted below are the details of support and resistance levels provided in our previous report:

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